Brokerages Set International Game Technology PLC (NYSE:IGT) Price Target at $18.28


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Shares of International Game Technology PLC (NYSE:IGT) have earned a consensus rating of “Buy” from the ten research firms that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $18.28.

IGT has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on International Game Technology from $16.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, January 7th. Macquarie lifted their price target on International Game Technology from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, March 3rd. Jefferies Financial Group upgraded International Game Technology from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Tuesday, January 19th. Argus upgraded International Game Technology from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Tuesday, January 12th. Finally, Truist upgraded International Game Technology from a “hold” rating to a “buy” rating in a report on Thursday, January 14th.

International Game Technology stock opened at $16.62 on Friday. International Game Technology has a 52 week low of $5.57 and a 52 week high of $20.30. The company has a debt-to-equity ratio of 4.55, a quick ratio of 1.01 and a current ratio of 1.08. The stock has a market capitalization of $3.40 billion, a P/E ratio of -4.13 and a beta of 2.34. The stock has a 50-day simple moving average of $17.65 and a 200 day simple moving average of $14.84.

International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Tuesday, March 2nd. The company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($1.22). International Game Technology had a positive return on equity of 0.59% and a negative net margin of 21.60%. The business had revenue of $885.00 million for the quarter, compared to the consensus estimate of $943.02 million. During the same quarter in the previous year, the business posted $0.31 EPS. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. Research analysts forecast that International Game Technology will post -0.16 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. boosted its stake in shares of International Game Technology by 23.8% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 971,417 shares of the company’s stock valued at $16,456,000 after buying an additional 186,626 shares during the period. Norges Bank bought a new stake in shares of International Game Technology in the fourth quarter valued at approximately $24,476,000. Virtu Financial LLC bought a new stake in shares of International Game Technology in the fourth quarter valued at approximately $486,000. Truist Financial Corp bought a new stake in shares of International Game Technology in the fourth quarter valued at approximately $217,000. Finally, Voloridge Investment Management LLC bought a new stake in shares of International Game Technology in the fourth quarter valued at approximately $7,719,000.

International Game Technology Company Profile

International Game Technology PLC operates and provides gaming technology products and services worldwide. It operates in two segments, Global Lottery and Global Gaming. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services.

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Analyst Recommendations for International Game Technology (NYSE:IGT)

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